This refers to “RBI puts auditors of banks on notice” (March 14). The decision of the Reserve Bank of India (RBI) to hold structured quarterly meetings with the auditors of banks is welcome. These meetings will not only enable the supervisory authorities to indirectly oversee the work of the external auditors but give the latter an opportunity to discuss the lending practices of banks, implementation of asset classification norms, provisioning, non-performing assets, suspicious transactions, frauds etc. The auditors meet the audit committees of the banks when their quarterly results are declared. They do share their concerns about the aforesaid issues
Tuesday, December 16, 2025 | 02:53 PM ISTहिंदी में पढें
Letter to BS: RBI's move to hold meetings with banks' auditors is welcome
These meetings will not only enable the supervisory authorities to indirectly oversee the work of the external auditors but give the latter an opportunity to discuss the lending practices of banks
 "RBI, RESERVE BANK OF INDIA, CENTRAL BANK")
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Going by the events leading to the October board meeting and the proceedings of the last three meetings, it’s obvious that the government will not let loose the pressure to change the way the Indian central bank operates
